Self Employed Tax Guide

There are a lot of considerations regarding taxes for the self-employed. We’ve put together a little guide to help you navigate through the often troublesome, sometimes murky tax requirements.

The Self Employed Tax Guide attempts to provides small business owners and the self-employed with a one-stop resource to staying in compliance with the filing requirements and minimizing the financial burden imposed by several layers of government.

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Table of Contents

Small Business Tax Returns Required & Due Dates

  • Federal, State & Local
  • Payroll Requirements
  • Employee or Independent Contractor
  • Estimated Tax Payments for Self Employed Persons

    • Entity Selection

  • Reasonable Compensation for S Corporation Owners/Officers

    • What is Income?

  • Accrual versus Cash Method of Accounting
  • Gifts and Donations
  • Rental Income & Expenses
  • Capital Gains and Losses
  • Miscellaneous Income

    • Tax Deductions for the Self-Employed

  • General Business Deductions
  • Retirement Plan Deductions
  • Home Office Deductions
  • Renting a Building to Your Business
  • Deducting Vehicle Mileage
  • Travel Expenses
  • Meal and Entertainment
  • Business Gifts
  • Depreciation & Amortization
  • Hiring Your Children
  • Charitable Donations
  • Hobby Loss Rules
  • Can I deduct the time I donated
  • Do I get a tax break for the client that didn’t pay

    • Estimated Tax Payments & Tax Audits and Collections

  • Tax Credits
  • Self-Employment (SE) Tax

    • Year End Strategies

  • General Self Employed Considerations
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  • Huddleston Tax Accountants / Huddleston Tax CPAs – West Seattle
    Certified Public Accountants Focused on Small Business
    1700 7th Avenue, Suite 2100 / Seattle, WA 98101
    206-548-4427

    Huddleston Tax CPAs & accountants provide tax preparation, tax planning, business coaching,
    QuickBooks consulting, bookkeeping, payroll, offer in compromise debt relief, and business valuation services for small business.

    We serve Seattle, West Seattle, North Seattle, South Seattle, Ballard, Fremont, Wallingford, University District, Queen Anne, Capitol Hill, Pioneer Square, and the greater Washington area. Call to meet John C. Huddleston, J.D., LL.M., CPA, Lance Hulbert, CPA, Grace Lee-Choi, CPA, Jennifer Zhou, CPA, or Jessica Chisholm, CPA. Member WSCPA.